SEC Form 4 · accession 0001127602-15-017317
CIT GROUP INC · CIT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Gerald Rosenfeld
Director
Period of report
May 12, 2015
Accepted (ET)
May 14, 2015 · 5:13 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001171825
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | May 13, 2015 | M | 714 | — | A | 9,681 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF2,F4 | — | May 12, 2015 | A | 648 | A | — | — | Common Stock | 648 | 648 | D |
| Restricted Stock UnitsF5,F6,F7 | — | May 12, 2015 | A | 2,377 | A | — | — | Common Stock | 2,377 | 2,377 | D |
| Restricted Stock UnitsF1,F2 | — | May 13, 2015 | M | 714 | D | — | — | Common Stock | 714 | 0 | D |
| Restricted Stock UnitsF1,F4,F5 | — | May 13, 2015 | M | 873 | D | — | — | Common Stock | 873 | 1,746 | D |
| Deferred Share UnitF1,F9,F6,F10 | — | May 13, 2015 | M | 873 | A | — | — | Common Stock | 873 | 6,303 | D |
Explanation of responses
- F1Each restricted stock unit ("RSU") had the economic equivalent of one share of CIT common stock.
- F10Deferred share units ("DSU") will expire and settle in shares of common stock upon filer's departure from the Board.
- F2Restricted stock units are scheduled to vest 100% on the first anniversary of the date of grant and shall settle 100% in shares of CIT common stock.
- F3Filer elected to receive restricted stock units in lieu of cash compensation.
- F4Each restricted stock unit ("RSU") has the economic equivalent of one share of CIT common stock.
- F5RSUs are scheduled to vest in three equal installments on the first, second and third anniversaries of the date of grant and are payable 50% in shares of CIT common stock and 50% in cash. The cash payment shall be based on the closing price of CIT common stock on the vesting date.
- F6Filer elected to defer issuance of stock until he is no longer a member of the Board.
- F7Filer elected to receive 100% stock upon settlement.
- F8Filer elected to defer issuance of stock until no longer a member of the Board.
- F9Each Deferred Share Unit is the economic equivalent of one share of CIT common stock.